City and NYU-Poly Announce Dumbo ‘Clean Tech’ Incubator

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The city and the Polytechnic Institute of New York University are launching a 10,000 square foot clean tech incubator at Forest City Ratner’s 15 MetroTech in downtown Brooklyn.

(Credit: city-data.com)

The Clean Technology Entrepreneur Center will house 20 startups focused on solving urban energy and sustainability issues, NYU-Poly and the NYC Economic Development Corporation announced this morning at a breakfast held at NYU-Poly.

“New York City is committed to addressing the global challenges associated with climate change, and we in the Bloomberg Administration have taken a number of important steps to ensure that we are a world leader in sustainability and resiliency in the 21st century,” EDC President Seth Pinsky, in a prepared statement sent before the breakfast.

The proposal was selected following a request for proposals issued in January by the EDC, which will provide up to $750,000 in seed funding over two years.

Scheduled to open this fall, it will feature a 2,000-square-foot demonstration center to showcase new products and technologies. The incubator will also organize education events, extending NYU-Poly’s K-12 STEM programming and developing new initiatives.

The program expands upon existing NYU-Poly programs and collaborations with the Bloomberg administration, including the new PowerBridgeNY Proofof Concept Center and the New York City Accelerator for a Clean and Resilient Economy.

From 2009 through last year, NYU-Poly, the EDC and a consortium of other entities launched the Varick Street Incubator in Hudson Square; the NYC ACRE, which focuses on clean technology and energy startups; and the DUMBO Incubator in Brooklyn.

The three NYU-Poly incubators have generated $251 million in economic activity, created more than 900 jobs and contributed $31.4 million in local, state and federal tax revenue, according to NYU-Poly and EDC.

“This public-private-academic collaboration has a proven track record of assisting entrepreneurs in starting new energy-related business ventures, launching new products, and creating new jobs.” said NYU-Poly President Katepalli Sreenivasan, in a statement.

Over 600 startup businesses and 1,000 employees are currently located at the city-sponsored incubators, raising more than $100 million in venture funding, according to the EDC.